Member Info for ShangrLa

Can’t remember who was coordinating the picture around calling an EGM but think we need to get moving and build some momentum . I am also going to try and contact RAB capital and the Manners family to understand why they are not more concerned about this BOD and lack of progress .

We need to sell Redmore or sell LCCM to finance the other asset . Carrying on as we are burning through any money from Cobre just to pay current salaries with no other progress leads eventually to folding this company up . We need an EGM and Peters to give us a clear strategy on moving something forward . I for one can’t listen to 1 more jam tomorrow story .

We need answers on the plan to finance LCCM . With so low a market cap we will need to give away most of the company to get any level of cash . We should sell Redmoor and get LCCM going rather than continue with this protracted jam tomorrow strategy and promise of big things in the future .

Yes

Don’t think that RNS could have been any worse . Not sure this company can survive with the track record of disappointments and market cap of £3m . Only thing that would give any confidence is the BOD buying significant amount of shares and showing they actually believe this has a future .

We should get the promised update from JP this week . If it doesn’t arrive or we are not happy with it time to call that EGM .

I think the best course of action is to see if the promised RNS materialises in April and whether it is convincing . If not I agree we have to try and do something different starting with an EGM - the basis of this dependant on the RNS .

Link comes up with error message - can’t join as address is invalid ?

This is the response to my latest email - think he sent this to a number of folks - make of it what you will

Thank you for your recent enquiries and for keeping me informed of the general mood out there.

We had expected that we would have been able to produce, in the first quarter, some news that would justify issuing separate RNSs. However, while we have worked diligently, circumstances outside our control have delayed our expected progress, more specific details will be expanded upon in our quarterly report, expected to be out towards the end of April.

SML has excellent assets and the Board and management are fully committed to executing our plans even though market changes and government processes may contribute to delaying timetables we had planned. The Board and management have adjusted operations to ensure continuation of operations ahead of securing forward movement on either Leigh Creek and/or Redmoor.

The Board continue regular engagements with SML’s largest shareholders and value their continued support for our strategy.

Rest assured that, given the Board and management maintain significant shareholdings, there is strong alignment in ensuring what is best for SML is also best for its shareholders.


Regards


John Peters
Managing Director
Strategic Minerals plc

I have close on 30M . Before committing mine I’d like to see how JP responds to my latest email . Will share any response on here .

Think the Q&A was helpful . Big winners will be those who buy big now at a risk of losing a small amount versus a multi bag over the coming 3 years . LTH’s who are significantly under water will not get a better offer IMO as I think the deal goes through however people think about it .

The BOD will be handsomely rewarded for this deal and get to keep their jobs in the new company . How can this be in any way a good deal for shareholders , stinks of purely self interest for the BOD and no doubt the people they are doing the deal with .

Asking me to hang in there . Hoping to have good news for the market soon . Lot of work done but can’t talk about it until signed off .

IMO sounds genuine but hard to be confident as we’ve heard similar before .

SP now about half what it was several years ago despite all the positive spin by the BOD . I’ve emailed JP to get his views .

Maybe £6m about right for LC however SML would have had to release an RNS today as well ?

Email JP and ask him to update you . He usually responds even if you don’t like what he says . Last email to me said finance for LCCM will likely slip into Jan as will his prediction of 1p share price slip into Q1 2023 . Hard to believe anything with the track record but that is what he said .

To my latest email - can’t release any info yet as not hard facts
Progress made on LCCM financing but unlikely to sign now by end Dec - will likely slip in to Jan .
Also progressing finance to move Redmoor to pre feasibility stage (and a spin out thereafter ) - Expect progress Q1
Believes shares are ridiculously undervalued - based on the above disappointingly pushing out his 1p forecast to Q1 .

I think all PI’s should start emailing Peters and Wale and put more pressure on them to do something with this business . Milking it for salaries for a few more years is not acceptable . They are not held to any level of account for the poor performance . I don’t get what the BOD do all day . The one profitable part of the business runs itself with Clovis . Progress on LCCM and Redmoor is so slow it can’t be taking any time . A junior person from one of my teams could run this business with their eyes closed . All the supposed experience the BOD have in mining and Finance doesn’t seem to add any value .

jpeters@strategicminerals.net

Write directly to Peters and see what he has to say to your suggestion .